I am a CPA in Texas with an MBA from the University of Chicago. I have seen a lot and made many mistakes. Hopefully by now I will have learned something from them. Just as importantly, you may learn something from my mistakes. You can e-mail me by clicking on my "View my complete profile".

Wednesday, April 8, 2009

Exxon Plunges!

"Capitalizing on recent years of soaring oil prices and conservative investment, Exxon Mobil Corp. said it will boost spending on energy exploration and production by 11% to $29 billion this year, even as many of its rivals are cutting costs. ... Exxon's spending this year will come in toward the top of the $25 billion to $30 billion the company had said it would spend each year through 2013", Russell Gold at the WSJ, 6 March 2009.

This makes sense to me. Exxon's exploration and development dollars go a lot further than they did nine months ago.